- As of press time, WeRide fell 12.18 percent and Pony AI dropped 13.96 percent.
- WeRide raised about HK$2.93 billion in net proceeds from its Hong Kong offering, while Pony AI secured HK$6.45 billion in net proceeds.
WeRide (HKG: 0800) and Pony AI (HKG: 2026) both plunged on their Hong Kong stock market debuts, signaling investors' lukewarm enthusiasm for betting on these two Chinese autonomous driving tech companies.
At press time, WeRide traded at HK$23.80 per share, down 12.18 percent from its offering price of HK$27.10; Pony AI traded at HK$119.60 per share, down 13.96 percent from its offering price of HK$139.
WeRide currently has a market capitalization of HK$24.4 billion, while Pony AI stands at HK$51 billion.
WeRide raised about HK$2.93 billion in net proceeds from its Hong Kong offering, while Pony AI secured HK$7.19 billion in net proceeds.
Both companies plan to allocate the funds toward developing autonomous driving technology and accelerating the commercialization of their Level 4 robotaxi fleets.
WeRide was founded in 2017 and was listed on the Nasdaq on October 25, 2024.
Pony AIwas founded in late 2016 and was listed on the Nasdaq on November 27, 2024.
WeRide's Level 4 autonomous vehicle fleet exceeds 1,500 units, including over 700 robotaxis, according to its prospectus.
Pony AI operates over 720 robotaxis and aims to expand its fleet to 1,000 units by year-end.
